George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Actually that should have been 2021-2022, not 2020-2021
Year 2019-2020.... 1.75 tonnes
Year 2020-2021.... 1.25 tonnes
So yep Gallmat, you're right, a tiny amount
Https://www.gold.org/goldhub/data/gold-production-by-country
I think you will find India does mine quite a bit of gold
Https://mines.gov.in/webportal/content/ongoingnit
The bhukia auction is showing as tentative May date. Others are showing as on hold or in dispute due to litigation.
Obviously we know bhukia will be in dispute… be interesting if any change appears here when they receive our notice of arbitration or if the auction goes ahead.
Interesting. There is literally no gold industry in india, they produce only a few tonnes.
All very interesting.
Dbush
I noticed the goverment does flip between 2 parties every 5 yrs. So maybe the same party was blocking them in past.
However, settling it and blaming the former party is often a good political strategy. That is why i am quite interested in the reaction to a potential law suit on the ground in india.
Thinking in a similar way to you
Thanks for being constructive :)
Personally i would be interested if the change of gov has changed dynamics.
It damages can be revised upwards and downwards during hearing inline with commodity prices of blue sky discovery.
Also if interest accrues at spot or past. Given usd libor + 2pct is 6pct on maybe 1bn. Might be worth an ask.
The new governments aim to stamp out corruption could well mean that an early settlement is likely
If rajastan announce say £600million going into coffers and publish all paperwork they will get the new government off their back
Wouldn’t it be surprising if an Indian gold mining company was successful still plenty of scope for them then
Can you ask him if he has boiled eggs for breakfast, thanks so much
I am hoping for an update on Bassala soon too.
Last RNS was September 22.
MB I think has previously called this his 'pet project'.
Thanks for feedback.
My main objective is to connect, many ceo's ignore such requests.
Thanks , I think ( as previously posted by others) MB will be doing an interview this month. I doubt he will give much away before that.
Plus unless any meaningful communication from GoI this month the application to the courts will be lodged with hopefully the quantum becoming public knowledge.
I think any questions I have will be abit too price sensitive for him to answer! Lol.
I want to also directly address the future dilution issue
I just want to have a friendly chat if possible. You seem to be well researched, if you have better questions let me know.
Gabriele just lost their case in part due to such issues. I want to ask short questions on many topics.
1. Is litigation mentioned in sale docs.
2. Local opinion on litigation
3. Gov change in dec 2023.
4. Does auction result limit value of claim.
Morning Gallmatt..just wondering why you would want to ask about environmental etc etc..the auction is for a mining licence, not prospecting..we are not bidding either..so why does it matter?
I expect the call we be later in next week as he returns on Monday.
Good to see a CEO who is willong to talk to investors
Good morning.
Are there any questions you would like to ask to the ceo?. I am trying to arrange a call next week, hopefully next Monday.
I often reach out to companies and the good ones agree.
I plan to ask about red flags around the project ( local opposition, environmental issues).
Plan for managing active assets vs litigation.
Indeed, LCMs backing brings a lot of weight for our case. My point was that we aren't in the same set of rules, and the stats from that research note are old.
In the past ~8 years, the general trend has been for international cases to finish faster. PAT and LCM point out that this could take 3-5 years. But it's also possible that we'll get a decision earlier than that.
I'll be happy to see the claim amount for now. If the arbitrators are all selected this year I'm sure we'll get some movement on the stock.
And an updated Cascades MRE.
Faskens are confident too. They don't take work on without a high degree of confidence.
Ed, it's not just that LCM think we can win, it's that they've provided $13.6m in non recourse funding & our current market cap is pricing in a ~1.5% chance of winning...
The timeline is an unknown, Poland aren't in ISCID either and it hasn't unduly impacted Greenx's timeline, which saw them go from signing the LCM funding agreement in July 2020 to completion of the hearing against Poland in November 2022.
The main points in the near term are claim quantum & the outcome of the May auction.
Our case is being raised under the provisions of the India-Australia BIT, which was shut down by India in 2017.
"The Australia-India BIT signed on 26 February 1999 was terminated relatively recently, on 23 March 2017. However, in accordance with Article 17(3) of the treaty, certain provisions of the Australia-India BIT will continue to be effective for a period of 15 years from the date of termination, i.e. until 23 March 2032"
https://www.dfat.gov.au/trade/investment/australias-bilateral-investment-treaties
It states that the initial arbitrators should be determined within two months of the notice, then one more month for the third arbitrator.
Let us hope that India sticks to those time limits. If not, it needs to be escalated, taking further time.
I don't think there are any time limits in the BIT for the tribunal unfortunately. India has also changed their laws pertaining to international cases in 2015, 2019 and 2021. I haven't gone though those in detail yet.
The main positive for me is that LCM are confident we can win.
Many thanks for the corrections.
Always happy to listen to any poster
Bear in mind two important things:
ICSID has been reworked since the research you linked, to make arbitration faster.
India is not an ICSID member.
Is that the 2009 article?